The Calvin cycle involves several key steps: 1. Carbon Fixation CO₂ + RuBP → Unstable 6-C intermediate → 2 molecules of 3-PGA. 2. Reduction 3-PGA is converted to 1,3-bisphosphoglycerate, and then to glyceraldehyde-3-phosphate (G3P), which is an energy-rich sugar phosphate. 3. Regeneration of RuBP Some G3P molecules are used to synthesize glucose, while others are used to regenerate RuBP.